Leading UK investors back online investment platform with £750,000 seed funding
Angel CoFund, Edward Wray, Robin Klein and others back JustInvesting
A new online platform that claims to allow entrepreneurs and investors to conduct an early-stage investment process entirely online today announced it has raised £750,000 from a group of high-profile UK angels.
Founded by Paul McGuire, the JustInvesting platform enables entrepreneurs to pitch their businesses online to angel investors, who can manage and monitor the entire process of their investments on the site.
The service, which is already live with a closed group of investors, entrepreneurs and accelerators, claims to better serve the needs of start-ups in the UK’s fast-growing tech sector by reducing the costs and complexity traditionally associated with the venture capital process.
The £750,000 investment comes from a group of UK investment heavyweights including Robin Klein of Index Ventures and the Accelerator Group, co-founder of Betfair Edward Wray, and a number of senior finance industry executives.
JustInvesting has also received investment from the government’s £100m Angel CoFund – an initiative designed to support high-growth start-ups by investing alongside private backers.
Paul McGuire, founder and CEO of JustInvesting, commented: “We’re delighted to be supported by such a distinguished group of investors, and pleased that they share our vision. Early-stage companies are important engines for economic growth, but providing funding to large numbers of small businesses in an efficient way, and across borders, is a problem that has not yet been solved.
“The JustInvesting platform will underpin the transformation of this industry enabling professional investors, institutions, government and other industry players to make the transition to a dramatically more efficient economic model, to the benefit of entrepreneurs, investors and the economy.”
George Whitehead, chairman of the Angel CoFund, added: “The Angel CoFund’s aims are to both support angel investing, and to get cash to good businesses who will be able use the additional money to truly scale up. With JustInvesting we are delighted that the benefits are two-fold because it’s both a great business for us to invest in, as well as one that will have a really positive impact on angel investing.
The process of investing into early stage ventures is too often complex, fragmented and therefore restrictive to the development of the UK’s angel market. JustInvesting is going to provide a much-needed toolset for active angel investors and investment firms, and we expect it to be instrumental in building the market for small business capital.”